ChainCatcher reports that analyst IT Tech stated in a CryptoQuant report on Thursday that the seven-day average realized net loss for Bitcoin has reached $2.3 billion, calling it “one of the largest panic sell-offs in Bitcoin history, comparable to the 2021 crash, the Luna/FTX collapse in 2022, and the mid-2024 correction.”
“This scale of loss ranks among the top 3 to 5 in history,” the analyst added, “only a few instances in Bitcoin’s history have seen such extreme panic selling.” Bitcoin has plummeted nearly 50% from its all-time high of over $126,000 in October last year, currently trading around $66,600; it previously dipped to a low of $60,000 on February 6 before rebounding.
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